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Gold Prices Hit Historic Highs, Surpassing $2,797 Amid Market Concerns

Record Rise in Gold Prices

On Thursday, the price of gold surged, surpassing the $30 mark and reaching an unprecedented peak.

As of today, the price of one ounce of gold has increased by $35, reaching $2,797. This surpasses the previous record of $2,790 per ounce, marking the highest level ever recorded in trading history.

Concerns about trade tensions between the United States and Canada, along with Mexico, have heightened anxiety among traders.

Additionally, fluctuations in the value of the US dollar and the profitability of American financial assets have contributed to the rising gold prices.

This shift comes as the Federal Reserve maintained interest rates at 4.5% during its most recent meeting. Furthermore, the US government reported a growth rate of 2.3% for the country’s economy in the fourth quarter of 2024, a decline from the prior quarter’s growth of 3.1%.

Meanwhile, the European Central Bank has lowered its interest rates from 3% to 2.75%, indicating potential further reductions in future meetings.

The Federal Reserve’s recent decisions have led to anticipation for new economic data, enabling them to assess the direction of monetary policy.

Given the persistent rise in gold prices, it is likely that the price of gold in the Kurdistan Region markets will see an increase this upcoming Saturday.

Current Gold Prices in the Kurdistan Region According to Local Jewelers:

Gold Purity Price (ID)
24 Carat 668,000
22 Carat 612,000
21 Carat 585,000
18 Carat 500,000

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